What will the world look like after COVID-19?
The planet after COVID-19 is unlikely to be the same as it was before. Effect of the pandemic is hastening many trends already underway in global economy.
There is a lot of interest in online classes now that schools and colleges are closed. Teachers all over the world are harnessing the power of the internet to bring educational material directly to the homes of their students. This signal in a change in the way students learn in a school after the pandemic ends.
In India, it is common to see spit stain in public places, road and building walls. And now since everyone has to wear mask in public places and maintain personal hygiene, spitting could be a thing of past.
And globally, people has been more cautious of their health, hygiene and their surroundings.
Now coming to economic status of the country.
In a post COVID-19 world, a new international order will be redrawn by powerful countries taking into account the lessons learnt in dealing with current pandemic.
Low GDP growth, high debt, and reliance on oil and critical technology would make it difficult for developing countries to sustain independent foreign policies. The delicate balance between democratic totalitarianism and the free market economy would have to be considered when establishing a new international order , as both have shown different strengths.
It should not be an international order in which a country’s raw material is exported in cents per metric ton and then imported back in dollars per metric ton after reprocessing and value addition by the same country.
Worker strikes and a sharp rise in government subsidies may result from growing inequalities within and between countries. This might reignite debates about the efficacy of old liberalism and socialism philosophies in addressing economic issues.